Internet Marketing Wealth Alliances
I need a break from dealing with “the assholes of the world” to talk about something new.
It’s easy to get caught in the latest hyped up methods of the moment and lose site of the big picture. X is no exception to this.
While meeting with a partner of mine who has tons of direct marketing experience but little online, he asked me a question you and I should be asking ourselves everyday:
“How do we get traffic that’s going to add the most to our bottom-line fastest?”
Let me shock you with the answer - it’s not pay per click. Pay per click is great for a constant stream of traffic and if you get in front of the right landslide you CAN get a lot of traffic fast.
You can also lose your ass.
No the best answer to that question is simple: joint ventures and affiliates.
The concept of “wealth alliances” takes this an additional step. The way I see most people operate is a “one and done” with JV partners. And if someone actually reciprocates a favor, that’s remarkably unique. I learned a long time ago there are VERY few people in the IM niche who’s word means ANYTHING.
And, maybe I’ve just stayed in the IM niche too long.
What I’m talking about with “wealth alliances” is simple. You get six complementary businesses - with complementary offers together - and you take turns promoting each other. Each business is promoted by every other twice per year.
Like I said, the idea is simple . . . and it’s more than an idea.
I’ve had the unique opportunity to work with 2 businesses selling essentially the same product.
Business one embraced the idea of “wealth alliances” and enjoyed explosive growth. In a couple short years, with this strategy accounting for about HALF of all income, this business built a multi-million dollar income and a list of approximately 150,000 subscribers. All of the businesses involved benefited similarly.
Business two’s owner took the attitude of “my product is the only solution anyone needs” and refused to do JVs of any sort. While I respect his integrity, it came at the expense of his business. Today, his business continues to struggle online and he has an accumulated list of about 20,000 (NOTE: the 150,000 subscriber count of business one was while I worked with them five years ago - that list is probably much larger now - the latter list of 20,000 is a current count).
Most businesses have this primary concern: “If I promote other people, then I’m going to lose my customers to them”.
No, not so fast. This is why you have two lists - one of prospects and one of buyers.
Prospects are people who are on your list but they haven’t bought; this are like dates that have no future. They’re an asset you’ve paid to acquire and while the two of you may not be a “love match”, there might be a “love match” with one of your JV partners (this concept could never get through the head of business owner two).
By the way, I detail this whole approach in Money Map X - it costs eight bucks.
What’s involved with forming a wealth alliance?
- Find, then contact five businesses that appear to be a match. You want to look for high quality partners (assuming you offer high quality goods yourself). Contact them and communicate the vision.
- In niches outside IM, you’ll find list owners don’t care about commissions - they want a reciprocal mailing. Smart marketers recognize the value of new leads mean more than one-time commissions. Be prepared to negotiate. If your list is smaller, offer a higher-than-normal commission to get the ball rolling.On the topic of list size, don’t judge a list by it’s size. Judge it by how it’s been built, who’s on it and how it’s been managed. I’d rather have a partner with a high-quality list of 8000 than a partner who regularly beats the hell out of list of 500,000 freebie seekers.
- Ask your new partner(s) if they can recommend another business or two to join you. Finding someone with an existing “in” makes the process easier.
- Create a calendar where everyone is scheduled a full year out so you can track who’s mailing who and when. It’s vitally important that these commitments take precedence over anything else that comes along - failure to do so will cause issues FAST. Also, there are better times of the year for some types of businesses to promote - keep this in mind so the schedule comes out fair on the whole. Most people probably don’t want your “just before Thanksgiving and Christmas” slot, but with this setup someone is mailing for them every month and it all evens out.
Marketing is simple - if not always easy.
It breaks down to three things I know you’ve heard many times, but it’s easy to overlook -
I want to sell:
- More stuff
- To more people
- More often
This takes care of the “to more people” part of the marketing success equation.
X
PS - I’m looking for some new JV partners in the niches of SLEEP, MEDITATION, STRESS RELIEF, AND PERSONAL EFFECTIVENESS (this is pretty wide open). If you’ve got a high quality product, a respectable list and the desire to get involved in one of my wealth alliances then leave me a comment (I won’t post it) or send an email to sales<at>adwordsblackbook<dot>com
PSS - If you haven’t checked out Jeff Walker’s Product Launch Formula Videos, I recommend you do - this all fits.
joint venture marketing strategy wealth alliance
